IES (NASDAQ:IESC) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of IES (NASDAQ:IESC) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other research analysts have also recently weighed in on the stock. Loop Capital set a $458.00 price objective on shares of IES in a report on Tuesday, February 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of IES in a research report on Monday, December 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $458.00.

IES Price Performance

NASDAQ:IESC opened at $489.52 on Friday. The company’s 50-day moving average is $428.78 and its two-hundred day moving average is $392.79. IES has a 1-year low of $146.51 and a 1-year high of $495.00. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 29.12 and a beta of 1.72.

IES (NASDAQ:IESC) last issued its quarterly earnings data on Friday, January 30th. The technology company reported $3.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.94 by ($0.23). IES had a return on equity of 35.62% and a net margin of 9.70%.The business had revenue of $870.96 million for the quarter, compared to analyst estimates of $876.00 million.

Insider Activity at IES

In other news, Chairman Jeffrey L. Et Al Gendell sold 76,400 shares of IES stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $473.25, for a total value of $36,156,300.00. Following the transaction, the chairman directly owned 10,595,320 shares of the company’s stock, valued at $5,014,235,190. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Tracy Mclauchlin sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $411.48, for a total value of $2,057,400.00. Following the completion of the transaction, the chief financial officer owned 65,525 shares in the company, valued at $26,962,227. This trade represents a 7.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 217,661 shares of company stock valued at $96,387,385 over the last 90 days. 56.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IESC. First Trust Advisors LP increased its stake in IES by 982.7% in the 3rd quarter. First Trust Advisors LP now owns 323,893 shares of the technology company’s stock valued at $128,796,000 after purchasing an additional 293,977 shares in the last quarter. Pertento Partners LLP purchased a new stake in IES during the second quarter worth $46,916,000. Northwestern Mutual Wealth Management Co. grew its holdings in IES by 324,337.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 120,042 shares of the technology company’s stock valued at $46,699,000 after purchasing an additional 120,005 shares during the last quarter. SG Capital Management LLC purchased a new position in shares of IES in the third quarter valued at $38,609,000. Finally, Parsifal Capital Management LP acquired a new position in shares of IES during the 3rd quarter worth $25,768,000. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is a specialty contractor providing integrated electrical and mechanical construction services, engineering, and systems integration across North America. The company focuses on delivering end-to-end solutions for commercial, industrial and mission-critical facilities, combining design, build, commission and maintenance capabilities to serve a wide range of markets.

Through its subsidiaries, IES offers a comprehensive portfolio of services including electrical distribution and infrastructure, mechanical contracting, process piping, controls and automation, energy management, and ongoing service and maintenance.